Santander Bank Partners With Correos to Provide Basic Financial Services in Spain

Santander Bank recently announced it has signed a deal with Correos to provide services in Spain. The agreement will allow the banking group to provide services at a total of 4,675 Correos offices from the first quarter of 2021, with Santander’s basic financial services reaching an additional 1,500 municipalities through Correos.

“Bank customers will be able to withdraw and deposit cash at Correos offices, and postal workers will be able to deliver money to any address in Spain. Transactions will be free for Santander customers at Correos offices in areas where the bank is not present.”

Rami Aboukhair, the CEO of Santander Spain, spoke about the partnership by stating:

This deal is another step towards the financial inclusion of thousands who live in towns and villages where the bank does not have a branch or ATM. Starting next year, the digital banking services they can acess will also include cash deposits and withdrawals as well as cash delivery by post to addresses anywhere in Spain.”

Santander now has more than 5.1 million digital customers in Spain who connect to its app and website more than 22 times a month. The banking group further revealed that 65% of its active customers are digital. Since the state of emergency caused by COVID-19, the bank’s digital channels have played a key role in ensuring normal operations.

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